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US Bancorp DE lifted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) by 32.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,344 shares of the medical device company’s stock after purchasing an additional 3,295 shares during the period. US Bancorp DE’s holdings in Tandem Diabetes Care were worth $637,000 as of its most recent SEC filing.
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Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its stake in shares of Tandem Diabetes Care by 358.3% during the second quarter. Fifth Third Bancorp now owns 440 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 344 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Tandem Diabetes Care by 244.7% during the second quarter. Quadrant Capital Group LLC now owns 517 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 367 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Tandem Diabetes Care during the third quarter valued at approximately $40,000. CoreCap Advisors LLC bought a new position in shares of Tandem Diabetes Care during the second quarter valued at approximately $61,000. Finally, CWM LLC increased its stake in shares of Tandem Diabetes Care by 88.2% during the second quarter. CWM LLC now owns 1,041 shares of the medical device company’s stock valued at $62,000 after purchasing an additional 488 shares in the last quarter. 96.50% of the stock is currently owned by hedge funds and other institutional investors.
Tandem Diabetes Care Stock Performance
Shares of NASDAQ TNDM opened at $42.70 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.20 and a current ratio of 4.81. The company has a market cap of $2.75 billion, a P/E ratio of -39.91 and a beta of 0.87. The firm’s fifty day moving average is $41.95 and its two-hundred day moving average is $49.04. Tandem Diabetes Care, Inc. has a 52-week low of $33.51 and a 52-week high of $125.54.
Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last posted its earnings results on Wednesday, November 2nd. The medical device company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.24). Tandem Diabetes Care had a negative return on equity of 8.34% and a negative net margin of 8.59%. The business had revenue of $204.55 million during the quarter, compared to the consensus estimate of $205.88 million. As a group, analysts anticipate that Tandem Diabetes Care, Inc. will post -0.76 EPS for the current fiscal year.
Insider Activity at Tandem Diabetes Care
In other Tandem Diabetes Care news, COO David B. Berger sold 10,000 shares of the company’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $40.25, for a total value of $402,500.00. Following the transaction, the chief operating officer now directly owns 3,029 shares in the company, valued at approximately $121,917.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Citigroup increased their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 in a report on Monday, December 12th. Jefferies Financial Group assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 12th. They set a “buy” rating and a $75.00 price target on the stock. Wells Fargo & Company upgraded shares of Tandem Diabetes Care from an “underweight” rating to an “equal weight” rating and set a $43.00 price target on the stock in a report on Tuesday, November 15th. Lake Street Capital cut their price target on shares of Tandem Diabetes Care from $150.00 to $60.00 in a report on Thursday, November 3rd. Finally, Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $76.00 to $45.00 in a report on Thursday, November 3rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $75.50.
Tandem Diabetes Care Company Profile
(Get Rating)
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
Further Reading
- Get a free copy of the StockNews.com research report on Tandem Diabetes Care (TNDM)
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Want to see what other hedge funds are holding TNDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating).
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